Equipment finance repayments calculator
Estimate monthly repayments and total cost on a chattel mortgage with a balloon payment.
Estimated results
What these figures mean.
This calculator estimates repayments on a chattel mortgage — the most common way to finance business equipment and vehicles, where you own the asset from settlement and the lender takes a registered security interest over it. Enter the asset's cost, any deposit you are putting in, the balloon (residual) payment as a percentage of the amount financed, the term, and an interest rate to test. The balloon is a lump sum due at the end of the term rather than amortised into the monthly repayment — a higher balloon lowers the monthly repayment but leaves more owing, or to refinance, at the end.
Monthly repayment and total cost are calculated on a standard reducing-balance basis; total cost includes the balloon, so it reflects everything paid across the life of the facility, not just the regular instalments. Rates and terms vary by asset type, age and condition — new equipment with strong resale value typically attracts sharper terms than older or specialised equipment — and are set by the lender once an application is assessed. Equipment finance on our panel is arranged through banks, non-bank lenders and specialist finance companies, for business-purpose use only.
Equipment finance — questions we are asked.
Can I claim GST back on equipment finance?
Usually, depending on your GST registration and how the facility is structured — speak with your accountant about the specific chattel mortgage terms.
What happens to the balloon payment at the end of the term?
You can typically pay it out, refinance it into a new facility, or trade the asset and use the proceeds — the right option depends on the asset's value at that point.
Does a higher deposit always reduce the monthly repayment?
Yes, since it reduces the amount financed, though the effect is smaller for a longer term or a larger balloon, where more of the cost sits outside the monthly figure.
Is chattel mortgage the only way to finance equipment?
No — operating leases and rental structures also exist, with different ownership and tax treatment. This calculator assumes a chattel mortgage, which is the most common structure for owned assets.